Ganesh Chaturthi: Will BSE, NSE open on August 27?
&imwidth=600&imheight=450&format=webp&quality=medium "Ganesh Chaturthi: Will BSE, NSE open on August 27?")
The Bombay Stock Exchange Photograph: (File)
Indian stock markets: Nifty 50 slipped 255.70 points, or 1.02 percent, to 24,712.05. The BSE Sensex was down 849.37 points. Will the stock market open tomorrow on Ganesh Chaturthi?
The Indian stock markets on Tuesday tanked, a day before Donald Trump's tariff on India comes into force. However, it remains to be seen how they react to the tariff after it takes effect. Will the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) open on August 27?
The Indian stockmarkets won't open on August 27, when Donald Trump's tariffs take effect. This is because of Ganesh Chaturthi, which falls on August 27. Both the Bombay Stock Exchange and the National Stock Exchange (NSE) will observe a holiday.
There won't be any trading of any kind in these stock exchanges. The markets were also shut on Independence Day, August 15.
Banks in many cities will also be closed because of Ganesh Chaturthi, according to the RBI calendar.
Earlier this month, the Trump administration issued a notification to impose an additional 25 per cent tariff on Indian imports. The secondary tariffs will come into effect from August 27. With this, the total levy on Indian exports will become 50 per cent.
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Both the stock markets skipped today. Nifty 50 at the National Stock Exchange (NSE) slipped 255.70 points, or 1.02 percent, to 24,712.05. The BSE Sensex was down 849.37 points, or 1.04 percent, to 80,786.54.
"The announcement triggered a wave of risk-off sentiment across domestic markets, leading to broad-based weakness," said Sudeep Shah, Head of Technical Research and Derivatives at SBI Securities.